AGM Statement

Filtronic PLC
27 September 2002




For Immediate Release
                                                         27  September 2002

                                 Filtronic plc


                                 AGM Statement


Filtronic plc ('Filtronic'), a leading global designer and manufacturer of
customised microwave electronic subsystems, held its Annual General Meeting at
the Marriott Hollins Hall Hotel, Hollins Hill, Baildon, Shipley at 11.00am
today.



Prior to the formal proceedings, Professor J David Rhodes, CBE FRS FREng,
Executive Chairman, made the following statement to shareholders regarding
current trading and outlook:



Current Trading



'In my annual results statement on 29 July 2002, I gave a detailed statement on
outlook.  Current trading is in line with the guidance given in that statement.
The overall level of activity in the Wireless Infrastructure business has been
as then indicated without any material change in demand for 3G WCDMA products.
Demand for our handset antennas has increased, driven by the new generation of
GSM phones. Overall profitability will be weighted towards the second half of
the financial year due to the cost reductions currently being carried out,
including the closure of the Santa Clara compound semiconductor fabrication
facility.'



Trading Outlook



'Whilst the short term global market conditions for our major businesses still
remain uncertain, the current level of business indicated above is expected to
be maintained for the foreseeable future and the Board expects both the Wireless
Infrastructure and Cellular Handset Products business segments to remain
strongly profitable and cash generative. Improved financial performance is
expected for the current financial year from both the Electronic Warfare and
Broadband Access businesses.  With production of RF switches for M/A-COM, Inc.
now underway at Newton Aycliffe and with the closure of the Santa Clara
fabrication facility, operating losses in the Compound Semiconductor division
will now reduce. The promising outlook for further orders through the Strategic
Alliance with M/A-COM remains unchanged since the announcement on 16 September
2002. With regard to gallium arsenide based power amplifier modules, customer
evaluation continues to be positive and the Board believes that these products
will play a significant role in future GSM EDGE and 3G WCDMA base stations.'



Financing



'Filtronic has continued to generate cash since 31 May 2002. This has enabled
the company to buy back more than $21m of the 10% Senior Notes during August and
September. Over $50m of these Notes has been bought in since February of this
year. The amount of Notes outstanding has been reduced to $119.2m and the
company has no other borrowings. The company's £31m bank overdraft facility
remains unutilised.  The Board expects that the company will continue to
generate cash during the current financial year.'



ENDS


Filtronic plc                                  Tel: [phone]
Professor J David Rhodes, CBE FRS FREng        Executive Chairman & CEO, Filtronic plc
John Samuel                                    Finance Director, Filtronic plc

Binns & Co PR Ltd                              Tel: [phone]
Peter Binns
Paul McManus                                  Mob: [phone]





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